S.Amdt. 3415

SA 3415. Mrs. LINCOLN submitted an amendment intended to be proposed
to amendment SA 3336 proposed by Mr. Baucus to the bill H.R. 4213, to
amend the Internal Revenue Code of 1986 to extend certain expiring
provisions, and for other purposes; which was ordered to lie on the
table; as follows:

On page 268, between lines 11 and 12, insert the following:

SEC. __. MULTIEMPLOYER PLAN CONTRIBUTION CREDIT.

(a) In General.--Subpart D of part IV of subchapter A of
chapter 1 of the Internal Revenue Code of 1986 is amended by
adding at the end the following new section:

``SEC. 45R. MULTIEMPLOYER PLAN CONTRIBUTION CREDIT.

``(a) General Rule.--For purposes of section 38, in the
case of a qualified taxpayer, the multiemployer plan
contribution credit for any taxable year is an amount equal
to 50 percent of the taxpayer's qualified multiemployer plan
contributions for the taxable year.
``(b) Definitions.--For purposes of this section--
``(1) Qualified multiemployer plan contribution.--The term
`qualified multiemployer plan contribution' means the amount
of contributions paid pursuant to a collective bargaining
agreement by a qualified taxpayer to a qualified
multiemployer plan for a taxable year.
``(2) Qualified taxpayer.--The term `qualified taxpayer'
means any employer that is--
``(A) engaged primarily in the active conduct of the trade
or business of carrying freight for unrelated third parties
that was engaged in such trade or business on the date of
enactment of the Motor Carrier Act of 1980; and
``(B) a party to--
``(i) the National Master Freight Agreement, or
``(ii) a collective bargaining agreement that includes
terms substantially similar to the National Master Freight
Agreement as in effect on April 1, 2008, or thereafter.
``(3) Qualified multiemployer plan.--The term `qualified
multiemployer plan' means a defined benefit plan that is a
multiemployer plan (as defined in section 414(f)).
``(c) Noninclusion of Increased Contributions.--A qualified
taxpayer's qualified multiemployer plan contribution shall
not include any amount attributable to an increase in the
rate of contributions to a qualified multiemployer plan after
September 1, 2009, except to the extent that such increase is
required by the terms of a collective bargaining agreement in
effect on April 1, 2008. For purposes of the preceding
sentence, a subsequent amendment or extension of a collective
bargaining agreement in effect on April 1, 2008 shall not
result in an inclusion of any additional amount attributable
to an increased rate of contributions for purposes hereof.
``(d) Special Rules.--
``(1) Disallowance of deduction.--No deduction shall be
allowed for that portion of the qualified multiemployer plan
contributions for the taxable year which is equal to the
credit determined under subsection (a).
``(2) Aggregation rules.--All persons which are treated as
a single employer under subsections (b) and (c) of section
414 shall be treated as a single taxpayer.
``(3) Election not to claim credit.--This section shall not
apply to a taxpayer for any taxable year to the extent such
taxpayer elects to have this section not apply with respect
to all or a portion of the taxpayer's qualified multiemployer
plan contribution for such taxable year.
``(e) Termination.--This section shall not apply to
contributions made after December 31, 2013.''.
(b) Credit Treated as Part of Business Credit.--
(1) In general.--Section 38(b) of the Internal Revenue Code
of 1986 is amended by striking ``plus'' at the end of
paragraph (34), striking the period at the end of paragraph
(35), and inserting ``, plus'', and by adding at the end the
following new paragraph:
``(36) the multiemployer plan contribution credit
determined under section 45R(a).''.
(2) Special rules for carryback of credit.--
(A) In general.--Section 39(a) of the Internal Revenue Code
of 1986 is amended by adding at the end the following new
paragraph:
``(4) Special rules for multiemployer plan contribution
credit.--Notwithstanding subsection (d), in the case of the
multiemployer plan contribution credit--
``(A) this section shall be applied separately from the
business credit (other than the multiemployer plan
contribution credit and the marginal oil and gas well
production credit),
``(B) paragraph (1) shall be applied by substituting by
substituting `each of the 10 taxable years' for `the taxable
year' in subparagraph (A) thereof; and
``(C) paragraph (2) shall be applied--
``(i) by substituting `30 taxable years' for `21 taxable
years' in subparagraph (A) thereof, and
``(ii) by substituting `29 taxable years' for `20 taxable
years' in subparagraph (B) thereof.''.
(B) Conforming amendment.--Section 39(a)(3)(A) of such Code
is amended by inserting ``and the multiemployer plan
contribution credit'' after ``marginal oil and gas well
production credit''.
(3) Treatment under alternative minimum tax.--
(A) In general.--Section 38(c) of the Internal Revenue Code
of 1986 is amended by redesignating paragraph (5) as
paragraph (6) and by inserting after paragraph (4) the
following new paragraph:
``(5) Multiemployer plan contribution credit.--
``(A) In general.--In the case of the multiemployer plan
contribution credit--
``(i) this section and section 39 shall be applied
separately with respect to such credit, and
``(ii) for purposes of applying paragraph (1) to such
credit--

``(I) 10 percent of the tentative minimum tax shall be
substituted for the tentative minimum tax under subparagraph
(A) thereof, and
``(II) the limitation under paragraph (1) (as modified by
subclause (I)) shall be reduced by the credit allowed by
subsection (a) for the taxable year (other than the
multiemployer plan contribution credit).

``(B) Multiemployer plan contribution credit.--For purposes
of this paragraph, the term `multiemployer plan contribution
credit' means the portion of the credit under subsection (a)
which is attributable to the credit determined under section
45R.''.
(B) Conforming amendments.--
(i) Section 38(c)(2)(A)(II) of such Code is amended by
striking ``and the specified credits'' and inserting ``the
specified credits, and the multiemployer plan contribution
credit''.
(ii) Section 38(c)(3)(A)(II) of such Code is amended by
striking ``and the specified credits'' and inserting ``the
specified credits, and the multiemployer plan contribution
credit''.
(iii) Section 38(c)(4)(A)(II) of such Code is amended by
striking ``the specified credits'' and inserting ``the
specified credits and the multiemployer plan contribution
credit''.
(c) Conforming Amendments.--Subsection (c) of section 196
of the Internal Revenue Code of 1986 is amended by striking
``and'' at the end of paragraph (12), by striking the period
at the end of paragraph (13) and inserting ``, and'', and by
adding at the end the following new paragraph:
``(14) the multiemployer plan contribution credit
determined under section 45R(a).''.
(d) Clerical Amendment.--The table of sections for subpart
D of part IV of subchapter A of chapter 1 of the Internal
Revenue Code of 1986 is amended by adding at the end the
following new item:

``Sec. 45R. Multiemployer plan contribution credit.''.

(e) Effective Date.--The amendments made by this section
shall apply to contributions made to qualified multiemployer
plans on or after January 1, 2010.
______